A popular crypto analyst is optimistic about the potential for significant gains from a competitor of the red-hot Dogecoin (
DOGE
).
Using the pseudonym Kaleo, the trader informs his 641,600 followers on the social media platform X that
FLOKI
could see its market cap rise to over $10 billion, more than triple its current value.
Kaleo points to a cup-and-handle pattern forming in FLOKI’s price chart, a pattern often seen as a precursor to a breakout in technical analysis.
“No need for complex charts here. Just take a step back and look at FLOKI. Revisiting its all-time high from 2021. A clear cup and handle formation on a high timeframe. BNB is ready for price discovery. This could easily push FLOKI past $10 billion on its next surge.”
The analyst draws parallels between FLOKI’s current price behavior and that of another popular memecoin, Pepe (
PEPE
), before its significant price spike.
Additionally, Kaleo highlights the advantage FLOKI has as it is built on Binance’s BNB Chain, especially with BNB experiencing an uptrend.
“On shorter timeframes, FLOKI resembles PEPE before its last upward move. They share a similar narrative: PEPE as a high ETH beta meme investment, and FLOKI as a high BNB beta meme investment.”
With a current market cap of $3.1 billion, Floki is currently trading at $0.0003182, up over 1,000% from its price of $0.0000269 just four months ago on February 5th.
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